4/08/2010 @ 8:20AM

Forbes.com Extras

SPECIAL REPORT: Moon’s Shadow

Two of Reverend Moon Sun-Myung’s sons are vying to infuse new fervor into Moon’s Unification empire, both as a business and a religion. A new $100 million Unification World Headquarters Church in Seoul is providing plenty of excitement, but with Moon having recently turned 90, succession is an issue, particularly since the two sons are at odds with an older brother whose activities in the U.S., including revamping Rev. Moon’s Washington Times, are causing strife. www.forbes.com/revmoon.

TEAM VALUATIONS: Major League Baseball

There really is no crying in baseball. Not when it comes to what teams are worth and the amount of money they earn. The average MLB team is now worth $491 million, 2% more than last year. In 2009–smack in the middle of the worst economy in seven decades–baseball’s 30 franchises turned in a record-high operating income of $522 million, an average of $17.4 million per team. One reason? New or refurbished stadiums in cities like New York and Kansas City, which helped push league revenue up 1.4% to $5.9 billion. To see what your favorite team is worth visit www.forbes.com/mlb.

Joel Greenblatt discusses the strategy chronicled in his book, The Little Book That Beats the Market. Greenblatt aims to find companies that are both cheap on several value metrics and have high returns on capital. The formula may not always beat the market, but it works for long-term investors.